It will be unusual if you never have to deal with the sale or purchase of part of a title as a conveyancer. Whether you are a solicitor or other practitioner dealing with commercial or residential property, a key skill is understanding how to effectively approach sales and purchases of part of freehold and leasehold land and property.
Challenges and traps can arise in any transaction involving a sale or purchase of part, whether you are dealing with a domestic garden, hundreds of acres of land, or the splitting of commercial premises.
If you are acting for the seller, do you understand what protections you should incorporate into the sale documents? As the buyer’s lawyer, do you appreciate the extent of your obligations to protect the buyer? Particular challenges you will face include knowing when and how the benefit and burden of existing rights and covenants are passed on, and the reservation of rights.
A sale of part of leasehold land raises additional issues. What, for example, are the implications and effects of splitting the reversion? How do you protect your client where there is a sub-letting of part? Our well known and respected property experts, Peta Dollar and Sarah Thompson-Copsey, will take you through the key steps and challenges of sales of part.